Is gambling rational?

Discussion in 'Discussion' started by Peace and War, Nov 6, 2009.

  1. Peace and War Bianca, you minx!

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    SO another one of those 'I saw it on a poster' questions. I've seen the question on this board for over a year now, but i've just started to think about it.

    I mean, this situation is based on gambling with money and in Casinos, etc. And I got to thinking, yes it's irrational to enter an unsure situation but, really the most amazing things can happen with a gamble.
    So, now it's your time, express your opinion people.

    Gambling:
    Good, bad?
    Should be legal illegal?
    Rational or irrational?
     
  2. Always Dance Chaser

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    Depends on the person. People with addictive personalities should avoids gambling, as should people who aren't good with money. Can't really speak from experience here, I'm not old enough to gamble.
     
  3. Daydreamer

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    I don't think gambling should be illegal, the minimum legal age to gamble is already the same as when you're considered an adult in most states. Of course gambling has risks, and it's important to know what they are. It's the same as knowing the risks when traveling: getting into a car, plane, or taking a walk. Are you well enough to drive? Plane safety statistics. Are you alone and/or is it dark out?

    I believe the line that defines rational and irrational differs for each person and situation. As for myself, I'm a good poker player; so my chances at winning in a poker game is higher than an amateur. How about something based solely on luck? Are buying lottery tickets rational?
     
  4. K'nuckles Destiny Islands Resident

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    To me gambling shows how susceptible a human is to taking risks and the idea of luck. People choose to gamble and that's their problem. I've heard stories about people losing thousands upon thousands, even their homes get lost to their primal addiction to such a manipulating business.
     
  5. The Twin My, what a strange duet

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    It depends on the person. Some people learn to moderate themselves, which is good, while others just want to try and "get rick quick" and end up in financial trouble.

    It's like I've said before about drinking: it's only bad if you can't control yourself. Once you lose your grip, it's very difficult to get it back before you end up hurting yourself.

    Illegal? In my state there are no casinos, but Connecticut has two and Rhode Island has 2 as well. I'm not sure why my state thinks it's illegal, and there's been a push as of late to build one, but people here have a very strong NIMBY attitude.

    My personal outlook on gambling? I first played with a slot machine at 18 (the casinos in Rhode Island are 18+), and my mother has always taught me to limit myself, and set a stopping point. Whether it's the first time I was at a machine and I hit a decent payout (say $5 on a penny machine), or I realized the machine was a "grabber" (likes your money a little too much), I printed my ticket and walked away. It's helped me control how often I play, and how much I walk away with in the end.

    Also made me a thousand-aire after my 21st birthday in Atlantic City, but we won't discuss that here (although it IS an amazing story).